12.01.2015

HSS to go public

UK rental company HSS has announced plans to list on the London stock exchange next month, in order to raise over £100 million from new shares, and shares from existing investors who plan to reduce their holdings.

As much as 25 percent of the company's equity could become available, which could value the business at as much as £600 million. It had revenues in the year to the end of September of £271.6 million, showing growth of almost 60 percent over the past three years. The company, which acquired UK Platforms in 2013, operates from 265 locations and with around 2,900 employees.

It plans to use the funds raised to reduce its current borrowing and to fund future growth.

A majority stake in HSS was acquired by Exponent Private Equity in October 2012 (Exponent acquires HSS) for an undisclosed sum. The management holds at least 10 percent of the company's equity.